The present invention relates to the use of a wireless device, such as a cell phone, to pay for transactions in general and, in particular, to utilizing multiple forms of tender as part of a transaction.
As contactless payment systems have become more common, there has been a push to enable contactless payment of transactions via a consumer's cell phone. As with contactless payment cards, cell phones may be equipped with a short-range Radio Frequency Identification (RFID) chip or other near-field communication devices. A wallet application may be downloaded to the cell phone and a dollar amount is stored in the wallet. To pay for a transaction, the consumer may then simply wave their cell phone within a few inches of a special display found in stores that accommodate such a payment mechanism. The special display may include an RFID reader that can access the wallet and deduct the appropriate amount via the RFID chip on the cell phone.
Such systems may have drawbacks. For example, rolling out machines that interface with a cell phone and accept dollars can add significant infrastructure cost for the cell phone carrier or financial institution in charge of the system. Further, seeking out such machines can be time consuming and/or inconvenient, and may limit adoption. Further, downloading applications and enrolling services may also limit adoption if the consumer feels that it is too complicated or too time consuming. Another drawback to such systems may be the lack of authentication. In addition, such systems may only utilize an individual form of tender, such as an individual credit card, for a given transaction.